After Removing 10,500 Employees, Cognizant Slashes Promotion Cycle To Just 1
IT behemoth Cognizant has taken yet another step to reduce promotions, and limit the number of appraisals a hard working employee can get.
After removing 10,500 employees, Cognizant has now reduced promotion cycle to just 1.
This new system of promotion cycle will be effective October 1st.
Cognizant Reduces Promotion Cycle To 1
Earlier, there were two promotion cycles in Cognizant: One in March, and the other in October.
Effective October 1st, there will be only one promotion cycle, which will start from October every year.
This means less employees will be eligible for promotion, since it will be evaluated annually, and the cut-off benchmark will be even harder.
Confirming this development, Becky Schmitt, chief people officer informed all employees via email: “The process will begin on October 1 and (will) look different than in the past years. Promotions would be streamlined into a single cycle for all levels to drive efficiency,” (Source: Moneycontrol)
The promotion cycle of March had already been stopped this year, due to coronavirus impact.
What Will Be Evaluated For Promotion?
Skills are the most important factor which will be considered, along with contribution to the company, leadership qualities and scope for future growth.
A company spokesperson said, “The process will begin on October 1 and will be based on skills, relative contribution, and qualities needed to lead transformation and future growth.”
Note here, that Cognizant hasn’t yet revealed as to how many promotions has been planned this year, or if there is any quota per se or not.
But since instead of two promotion cycles, there will be only one, less number of employees will be eligible for getting promotions.
Cognizant has already fired 10,500 employees in 90 days, which is among the highest in the world.
We will keep you updated, as more details come in.